Risk Warning: Your capital is at risk. 74-89% of retail investors lose money when trading CFDs.
You should consider whether you can afford to take the high risk.
Despite limited public details, Waka Funding is praised for its quick payments and responsive customer service.
Traders seeking a straightforward evaluation process and a range of instruments might find Waka Funding a good fit.
Create an account today and take on the Waka Funding challenge!
Current Promotions at Waka Funding
No coupon codes are available at this time. For current promotions, visit the official Waka Funding website or contact customer support.
A Brief Look at Waka Funding
Company Name
The firm’s official name is Waka Funding.
Address Details
The address is not publicly disclosed.
Year of Establishment
The founding year is not available.
Location of Registration
Registered in the United Kingdom.
Ownership Information
Details on ownership are not disclosed.
Supported Trading Platforms
Information regarding the specific trading platforms available at Waka Funding has not been disclosed on their website.
Instruments Available for Trading
Waka Funding offers a diverse array of trading instruments, including:
- Forex
- Commodities
- Indices
- Metals
- Crypto
How to Make Payments
Waka Funding supports these payment methods:
- Bank Transfer
- Cryptocurrency
Available Account Sizes
Waka Funding provides a range of account sizes to suit various trading needs:
- $25,000
- $50,000
- $100,000
- $200,000
Profit Splits
Waka Funding implements a tiered profit split structure that enhances with performance and time:
- Initial split: 50%
- Incremental bi-weekly increases until reaching up to 80%
Profit Targets
The profit target for Waka Funding’s evaluation is set at 10%.
Drawdown Rules and Loss Limits at Waka Funding Prop Firm
To mitigate risks, Waka Funding has established:
- Maximum Permissible Daily Loss: 4%
- Maximum Aggregate Loss: 8%
Number of Trading Days Allowed
There is significant flexibility regarding trading days:
- No Minimum Trading Days
- Maximum Trading Days: None
What Step Challenges Are Available?
Waka Funding’s challenges are designed for simplicity:
- Challenge Type: One-step Evaluation
- Desired Profit: 10%
- Drawdown Restrictions: Varies by account, typically 4% daily and 8% total.
Cost of Entry for Waka Funding Prop Firm’s Challenge
Pricing for entering the challenges varies by account size:
- $25,000 Account: $275
- $50,000 Account: $375
- $100,000 Account: $575
- $200,000 Account: $975
Pricing and Fees at Waka Funding
At Waka Funding, traders are required to pay a commission of $7 per lot, which is part of the firm’s commitment to maintaining a high-quality trading environment. For all other instruments, the firm only applies the market spread, ensuring that additional commissions do not burden traders.
Refund Guidelines at Waka Funding
All fees paid to Waka Funding are non-refundable. This firm policy ensures that resources are allocated efficiently and that traders engage with the platform with a long-term commitment in mind.
Trial Offer Status at Waka Funding
Waka Funding does not provide free trials, reflecting the firm’s strategy to attract serious and committed traders who are confident in managing their investment from the onset.
Structured Payout Schedule at Waka Funding
Waka Funding facilitates a flexible yet structured payout schedule to support its traders’ financial goals. The initial withdrawal opportunity arises just 10 days after trading begins, with subsequent withdrawals possible every 5 trading days, allowing traders to manage their earnings effectively.
Waka Funding FAQ Section
Yes, hedging is allowed at Waka Funding. However, hedging entries across multiple accounts or between clients is a rule violation. Hedging within a single account to protect a position is fully permissible. It is prohibited to hedge two different accounts/individuals by taking opposite positions in each to skirt the rules.
Yes, news trading is allowed.
Waka Funding provides 1:100 leverage for Challenge/Evaluation accounts. Real accounts have leverage set at 1:30, reflecting what is available to institutional traders.
At Waka Funding, with Eightcap, there is a $7 commission per lot on currency pairs. Proportional commissions apply to partial lots. Indices, commodities, and other instruments only incur market spread without additional commissions.
33% Consistency Rule Details
The 33% Consistency Rule ensures that no single transaction surpasses 33% of the requested profit during withdrawal. This rule is essential for maintaining sound risk management and preventing excessive risk-taking, especially before major news events.
Implementation in the Funding Stage:
This rule is applied during the funding stage, using volume bands for consistent risk management.
For example, if a trader’s average lot size over a month is 3 lots per trade, a 10-lot trade before payday breaches the rule by exceeding 200% of the average volume. Similarly, trades 75% smaller than the average would be excluded.
Formula:
Average Lot Size: Total lots traded / Total transactions
Upper Limit: Average lot size x 2
Lower Limit: Average lot size x 0.25
Transactions are aggregated within a 30-second window to maintain consistency in volumes and profits.
Outcome:
Transactions outside the range are excluded, but the account remains active, with compliant transactions processed as normal.
The rule aims to balance competitiveness with sustainability and market presence.
While some may find this rule restrictive, it encourages better trading habits and strategy adherence.
